MINI PROJECT REPORT ON

“STUDY OF RAPIDO”

Submitted in partial fulfilment of the requirements for

Master of Business Administration

(MBA)

Submitted by Under the guidance of

SHUBHAM VERMA
Dr. NAKSHATRESH
Father's Name- MR. SATYAPAL SINGH VERMA KAUSHIK MA’AM

Roll no : 2206920700063
Batch of 2023-25

LLOYD INSTITUTE OF MANAGEMENT & TECHNOLOGY PLOT NO 11,

KNOWLEDGE PARK-2, GREATER NOIDA-201306 (UP)
 CERTIFICATE

This is to certify that the project report entitled STUDY ON RAPIDO is a Bonafide
work done by SHUBHAM VERMA of 1st Year submitted in partial fulfilment of
requirement for the award of degree of Master of Business Administration of Dr. APJ
Abdul Kalam Technical University, Lucknow during the session 2023-2025

UNDER THE GUIDANCE-

2
 STUDENT DECLARATION

I,hereby state that the project for the MBA degree, MINI PROJECT 2 (Semester 2)on
“STUDY ON RAPIDO” has been originally carried out by me under the supervision
of Dr. NAKSHATRESH KAUSHIK Ma’am, Associate professor, Lloyd business
school, Greater Noida and this has not been submitted elsewhere for any other degree and
diploma previously.

The information presented in this report of market research is correct to the best of my
knowledge and the analysis is as per the norms and guidance provided for the report. I
have utilised the requisite concept and applied the required methodologies to analyse the
primary data collected to reach the conclusion in the report.

Place: Greater Noida SIGNATURE:

Date: SHUBHAM VERMA

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 ACKNOWLEDGMENT

It is my pleasure to acknowledge and express my gratitude to all those who helped me

throughout the successful completion of this project.

I am grateful to Dr. NAKSHATRESH KAUSHIK MA’AM, Associate Professor, Lloyd

Institute of Management and Technology, Greater Noida for her continuous guidance to
accomplish this project work successfully.

SHUBHAM VERMA
MBA SEMESTER-2

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 CONTENT
PAGE NO
INTRODUCTION…..................................................................................................................06

DESCRIPTION OF BUSINESS...............................................................................................07
FINANCIAL DESCRIPTION OF BUSINESS...........................................................................08

EXECUTIVE SUMMARY
MISSION.....................................................................................................................................09
SLOGAN.....................................................................................................................................09
VISION........................................................................................................................................09
OBJECTIVE................................................................................................................................10
KEYS TO SUCCESS..................................................................................................................10
COMPANY HIGHLIGHTS

INDUSTRY ANALYSIS
TARGET MARKET....................................................................................................................10
COMPETITORS..........................................................................................................................11

DESCRIPTION OF VENTURE
PRODUCT...................................................................................................................................13
SIZE OF OPERATION...............................................................................................................14
OFFICE EQUIPMENT................................................................................................................14

SERVICE PLAN
STAGES OF BOOKING RAPIDO SERVICE...........................................................................15

OPERATIONAL PLAN….......................................................................................................16
MARKETING PLAN................................................................................................................17
DISCOUNT AND OFFERS........................................................................................................18

FINANCIAL PLAN
BREAK EVEN POINT OF RAPIDO.........................................................................................18

RAPIDO-GROWTH AND REVENUE…...............................................................................19

GROWTH RATE........................................................................................................................20

MARKET GAP AND PROBLEM...........................................................................................20

HOW TO OVERCOME THIS GAPS.....................................................................................21

CONCLUSION…......................................................................................................................22
5
 INTRODUCTION
Rapido is a startup which provides bike taxi service in Bangalore, Gurgram, and Delhi.
This startup offers unique features where one can ride solo, book a quick bike with a
driver and rate the driver as well. Rapido is the cheapest, fastest and most convenient way
to commute in these metro cities always packed with traffic.

Currently Rapido has completed more than 1, 25,000 rides with about 50,000 users. The
bike taxi service has raised funds in a pre-series round of funding led by Pawan Munjal,
Chairman and CEO of Hero Motocorp Ltd. He envisions a significant growth in this
transport based service, as it is a good source of hassle-free life for masses and increase in
employment scale.Aravind Sanka, the founder of Rapido has stated that these funds will
be used for the growth and expansion of the company and team in other leading cities.

This app has multiple modes of booking which includes missed call booking service. It
has around 400 bikes in operation which soon is expected to touch 1000 in next 2 months.
Its hiring process is also well monitored, wherein the rider has to go through a
comprehensive test ride process, his vehicle is inspected, documents are verified and
mandatory training is given before he is taken onboard.

According to the team, 85 % of its services are from repeated customers and 10% of them
are women. Rapido has a huge scope of growth in the current market as on-demand two-
wheeler taxi service seems to be an interesting model. The fact that the company follows
stringent checks and strict penalties to ensure safe transportation also makes it more
reliable. So do not get surprised if you see rapid growth in Rapido.

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DESCRIPTION OF BUSINESS:

Rapido is an Indian bike taxi aggregator and logistics service provider based out of
Bangalore. Founded in 2015, the company operates in over 100 cities across the country,
but has run into legal troubles in several locations where bike taxis are not legal.
Wikipedia
Founders: Pavan Guntupalli, Aravind Sanka, Rishikesh SR
Type of business: Privately held company
Founded: 2015
Formerly: theKarrier
Headquarters: Bangalore, Karnataka, India
Number of locations: 100+ cities (2022)

FINANCIAL DESCRIPTION OF BUSINESS:

Rapido's financial performance has been impacted by a number of factors, including:

The COVID-19 pandemic, which led to a decline in demand for bike taxis
The entry of new competitors into the market, such as Ola and Uber
The company's investments in expansion into new markets
Despite these challenges, Rapido is still a growing company. It has raised over US$300
million in funding and has expanded to over 100 cities in India. Rapido is also planning
to expand into other countries, such as Bangladesh, Nepal, and Sri Lanka.

Here is a table of Rapido's financial performance from 2019 to 2022:

Year Revenue (INR crore)

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2019 22.4 100.4
2020 38.3 149.5
2021 56.9 244.0
2022 87.9 166.3

MISSION OF COMPANY :

The company’s mission is to bring people travelling in a similar direction together,

thereby reducing the number of vehicles on the road.This not only helps reduce traffic but
also carbon footprints and air pollution. It further augments the concept of not owning
everything by creating viable and accessible options to share.

SLOGAN:

“Bike Wali Taxi, Sabse Saxi”

VISION OF COMPANY :

Being part of RAPIDO Group means embarking on a European group adventure with a
variety of trades. There are over 30 different trades working alongside each other in each
of our companies. This is a great opportunity to have a range of trades and fields within
8
9
reach. And of course there is a wealth of opportunity offered by the locations of our
various factories. Having sites in three European countries broadens our views and
always provides fruitful exchanges.

OBJECTIVE :
The plan of action of Rapido Bike Taxi predominantly intends to give the best and the
most fulfilling administrations to its clients. They do it by offering sensible and safe rides
to their clients.

KEY TO SUCCESS :
Cost-effectiveness: Rapido offers affordable fares compared to traditional four-wheeler
taxis, making it an attractive option for short-distance travel.

Convenience and Time-saving: The convenience of booking rides through a mobile

application, along with the ability to navigate through traffic quickly, appeals to users
who prioritise time efficiency.

Last-Mile Connectivity: Rapido serves as a solution for last-mile connectivity, bridging

the gap between public transportation hubs and final destinations, thereby enhancing
overall transportation connectivity.

Entrepreneurial Opportunity: Rapido provides a flexible income opportunity for bike

owners who can register as "captains" and earn money by offering rides.

INDUSTRY ANALYSIS:

TARGET MARKET :

1. Urban Commuters: Rapido primarily targets urban commuters who are looking for a
convenient and cost-effective mode of transportation for short-distance travel within
cities. These individuals may need to commute to work, run errands, or travel within
congested urban areas. Rapido offers them a quick and efficient solution to navigate
through traffic and reach their destinations faster.

2. Students: College students and young adults form a significant portion of Rapido's
target market. They often need to travel between their educational institutions, hostels,
and other locations within the city. Rapido's affordable fares and the ability to avoid
traffic congestion make it an appealing option for students.

3. Working Professionals: Professionals who need to commute to and from their

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workplaces, particularly in crowded urban areas, are another target segment for Rapido.
These individuals often face challenges such as traffic congestion, limited parking spaces,
and the need to reach their destinations on time. Rapido's bike taxis provide a quick and
reliable solution for their daily commutes.

4. Local Travellers and Tourists: Rapido also caters to tourists and travellers who are
exploring a city and need a convenient mode of transportation for shorter distances. It
offers them a hassle-free option to move around the city and visit various attractions
without rely solely on public transportation or expensive taxi service

COMPETITORS:

1. Ola Bike: Ola, one of the leading ride-hailing companies in India, offers its bike taxi
service called "Ola Bike." Ola Bike competes directly with Rapido in the bike taxi space,
providing similar services and leveraging a network of bike riders.

2. Uber Moto: Uber, another major ride-hailing platform, operates its bike taxi service called
"Uber Moto." Uber Moto competes with Rapido in certain cities, offering riders the option to
book motorcycle rides for short-distance travel.

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3. Bounce: Bounce, formerly known as Metro Bikes, is a mobility startup that operates
in the bike rental and bike taxi segment. Bounce provides bike-sharing services as well
as its own bike taxi service, called "Bounce-Man," which directly competes with
Rapido.

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4. Vogo is another bike rental company that also offers bike taxi services. It is a smaller
competitor to Rapido. Although Vogo doesn't offer dedicated bike taxi services, its
presence in the two-wheeler mobility space and the availability of rental bikes position
it as a potential competitor to Rapido

DESCRIPTION OF VENTURE:

PRODUCT :

1. Bike Taxi Service: Rapido provides on-demand bike taxi services, allowing customers to
book rides through their mobile app. Users can request a ride, specify the pickup and drop-off
locations, and get matched with a nearby Rapido captain (bike rider) who will provide the ride.

2. Mobile Application: Rapido's mobile application is the primary interface through which
customers can access its services. The app allows users to register, book rides, track their
captain's location in real-time, and make secure payments.

3. Rapido Captain Network: Rapido's product relies on a network of registered bike owners
called "captains." These captains undergo a verification process to ensure safety and quality
standards. They use their bikes to provide transportation services to Rapido customers.

4. Safety and Security Measures: Rapido emphasises safety and has implemented various
measures to ensure rider and captain security. This includes features such as SOS buttons in the
app, live tracking, and sharing ride details with friends and family.

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5. Affordable Pricing: One of the key value propositions of Rapido is its cost-effectiveness.
The service offers competitive fares for short-distance rides, making it an attractive option for
customers seeking affordable transportation.

6. Cashless Payments: Rapido promotes cashless transactions to provide convenience and

security to its users. The app supports various digital payment options, allowing customers to
pay for their rides seamlessly.

7. Ratings and Reviews: Rapido's app enables customers to rate their captain's performance
and leave reviews, helping maintain service quality and accountability

SIZE OF OPERATION :

The size of Rapido's operations can be evaluated in terms of its reach, scale, and user base.
While specific operational metrics may not be publicly available, the following aspects indicate
the scale of Rapido's operations:

1. City Presence: With a presence in over 100 cities, Rapido has established a significant
footprint in the Indian market. It operates in both tier 1 and tier 2 cities, covering a wide range
of urban areas across the country.

2. Captain Network: Rapido's operations rely on a network of registered bike owners who serve
as captains. The size of Rapido's captain network is not publicly disclosed, but it plays a crucial
role in meeting customer demand and expanding the availability of bike taxis in various cities.

3. User Base: Rapido has gained popularity and attracted a sizable user base in the Indian
market. While specific user numbers may not be publicly available, the company's extensive
marketing efforts, customer acquisition strategies, and user ratings on app stores indicate a
substantial user base.

4. Ride Volume: The number of rides taken through the Rapido platform can provide insights
into the scale of operations. Rapido's ride volume would include the total rides completed by its
captains across multiple cities, representing the demand and utilisation of its services.

OFFICE EQUIPMENT :

1. Computers and Laptops: These are essential for employees to carry out various tasks, such as
managing operations, customer support, app development, and data analysis.

2. Printers and Scanners: These devices are used for printing and scanning documents, such as
invoices, receipts, and administrative paperwork.

3. Communication Tools: This includes telephones, mobile devices, and headsets to facilitate
communication between employees, captains, and customers.
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4. Office Furniture: Desks, chairs, tables, and storage cabinets are required to create a
comfortable and functional working environment for employees.
5. Internet Connectivity: Rapido's office would require a robust internet connection to support
online operations, data transfer, and communication.

6. Networking Infrastructure: Routers, switches, and network cables are needed to establish a
secure and reliable internal network for data sharing and communication within the office

SERVICE PLAN :

STAGES OF BOOKING RAPIDO SERVICE:

1. Registration: The user needs to download the Rapido mobile application from the respective
app store and create an account. Registration usually involves providing personal details such as
name, mobile number, and email address.

2. Location Selection: Once registered and logged into the app, the user can set their current
location by either manually entering an address or enabling location services to automatically
detect their position.

3. Destination Input: After setting the current location, the user needs to specify their desired
destination by entering the address or selecting it from a list of saved or frequently used
locations.

4. Fare Estimation: Rapido usually provides an estimated fare for the ride based on the distance
and time it would take to reach the destination. This allows users to get an idea of the cost
before confirming the booking.

5. Captain Matching: Once the destination is set, the user can proceed to request a ride. The
app's algorithm matches the user with an available nearby Rapido captain who can fulfil the
ride request.

6. Captain Arrival and Ride Initiation: After a captain is assigned, the user can track the
captain's real-time location on the app as they approach the pickup point. The user is notified
when the captain arrives, and they can then initiate the ride by boarding the bike.

7. Ride Completion and Payment: Once the user reaches the destination, they can end the ride
through the app. The app calculates the final fare based on factors such as distance, duration,
and any additional charges. Users can make cashless payments using various digital payment
options available in the app.

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8. Rating and Feedback: After the ride is completed, Rapido encourages users to rate their
experience with the captain and provide feedback. This helps maintain service quality and
provides insights for continuous improvement

OPERATIONAL PLAN :

1. Service Expansion: Rapido may outline its plans for expanding its services to new cities or
regions, identifying target markets and assessing the viability of entering those areas. This
includes conducting market research, evaluating transportation infrastructure, and
understanding local regulations and customer preferences.

2. Fleet Management: Rapido needs to manage its fleet of bike taxis efficiently. This includes
strategies for attracting and onboarding new captains, ensuring their safety and adherence to
company guidelines, and maintaining a well-distributed fleet across different locations to meet
customer demand.

3. Technology Infrastructure: Rapido relies heavily on its mobile application and backend
systems for ride bookings, captain-customer communication, and data management. The
operational plan may include strategies for maintaining and upgrading the technological
infrastructure to ensure a seamless user experience and efficient operations.

4. Marketing and Promotion: Rapido may outline its marketing and promotional strategies to
attract new customers and increase brand visibility. This could involve a mix of digital
marketing, partnerships with local businesses or events, referral programs, and targeted
advertising campaigns.

5. Quality Assurance: Maintaining service quality is crucial for customer satisfaction and
loyalty. The operational plan may include strategies for regular captain training and assessment,
monitoring customer feedback, and implementing mechanisms to address any quality issues
promptly

MARKETING PLAN:

1. Rapido utilises various marketing strategies to promote its bike taxi services and attract
customers. While I don't have access to Rapido's specific marketing plan, here are some
common marketing strategies that may be employed by Rapido:

2. Digital Marketing: Rapido leverages digital channels to reach its target audience effectively.
This includes online advertising, search engine optimization (SEO) to improve visibility in
search results, social media marketing, and email marketing campaigns. These efforts help
create awareness, engage with potential customers, and drive app downloads and ride bookings.

3. Referral Programs: Rapido may implement referral programs to incentivize existing

customers to refer friends and family to use the service. This approach helps expand its
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customer base through word-of-mouth marketing and provides incentives to both the referrer
and the new user.

4. Partnerships and Collaborations: Rapido may form strategic partnerships with other
businesses or organisations to expand its reach and attract new customers. This could involve
collaborations with ride-hailing platforms, travel agencies, event organisers, or local businesses
to offer exclusive discounts, promotions, or integrated services.

5. Localized Marketing: Rapido may adopt localised marketing strategies to target specific cities
or regions. This includes tailoring marketing campaigns to address the unique needs and
preferences of the local audience, partnering with local influencers or celebrities, and
participating in local events or festivals.
6. Brand Ambassadors: Rapido may engage brand ambassadors or influencers who align with its
brand values and target audience. These individuals can promote Rapido through their social
media channels, blogs, or offline events, thereby increasing brand awareness and credibility.

7. Customer Engagement and Retention: Rapido focuses on customer engagement and retention
strategies to build loyalty and encourage repeat usage. This could include personalised offers,
loyalty programs, special discounts for frequent riders, or exclusive perks for long-term
customers.
8. Offline Marketing: Rapido may also employ traditional offline marketing strategies to reach a
wider audience. This can include outdoor advertising, such as billboards, posters, and bus
shelters, as well as promotional activities at high-traffic locations, college campuses, or
corporate offices.

9. Public Relations: Rapido may engage in public relations activities to enhance its brand image
and generate positive media coverage. This could involve issuing press releases, organising
press conferences, or participating in industry events to showcase its achievements, initiatives,
and contributions to the transportation sector.

Discounts and Offers:

Rapido may offer discounts, promo codes, or special offers to incentivize users to book rides.
These promotions can be targeted to specific user segments, locations, or occasions and are
often communicated through the app, website, social media, or email campaigns.

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FINANCIAL PLAN :

BREAK EVEN POINT OF RAPIDO:

In the case of Rapido, the following factors would be considered in a break-even analysis:
Fixed Costs: These are costs that do not change with the level of production or service.
Examples for Rapido could include salaries and wages of employees, office rent, insurance,
technology infrastructure, marketing expenses, and administrative costs.
Variable Costs: These costs are directly proportional to the level of service provided. For
Rapido, variable costs could include fuel expenses, maintenance and repair costs for the bikes,
payment processing fees, and incentives for the captains.

Revenue per Ride: The analysis would consider the average revenue generated by each ride.
This includes factors such as the fare charged to customers and any additional fees or charges
associated with the service.

Contribution Margin: This is the difference between the revenue generated per ride and the
variable costs per ride. It represents the portion of revenue available to cover the fixed costs and
contribute towards profitability.

Rapido - Growth and Revenue:

The startup company is growing rapidly. The growth reflects in its financials. The Bengaluru-
based company reported that a 12.5x jump in revenue was seen in the previous year. The
company earned interest income and capital gain on the sale of mutual funds. It aims to cross
the million mark a day but already boasts of having 5,00,000 captains, who have served 10
million customers across 90 locations.

Looking at the revenues of Rapido, the mobility firm, increased its income by 54.4%, which
jumped from INR 56.9 cr to INR 87.9 cr, during FY21. The revenue from operations of Rapido
also jumped to become INR 75.6 cr. However, what's more important is that the company
managed to reduce its expenses too, which became INR 254 crore from INR 301 crore. This is
the reason why the losses of the company also shrank from INR 244 cr to INR 166.3 cr during
the same fiscal.

Rapido is currently valued at around $800 mn, after it saw the recent fundraising round led by
Swiggy, which infused $175 mn dated April 15th, 2022. This is quite an increase in the
valuation of the company, which was previously valued at $235 mn during the past funding
round. Some other prominent growth highlights of the brand are:

● Rapido is present in over 100 cities in India.

● The company boasts of having 15 million+ customers.
● It also has 1.5 million+ driver partners.
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GROWTH RATE :

➢ Year Rides
Completed 2015 -
100,000
2016 - 1 million
2017 - 5 million
2018 - 10 million
2019 - 20 million
2020 - 30 million
2021 - 50 million
2022 - 75 million
● 2023 (Year to Date) 100 million

MARKET GAP AND PROBLEM:

OVERCHARGING AND SURGE CHARGES :

One of the problems faced by customers in bikes is overcharging and a lack of transparency in
their charging system. customers have complained about technical glitches in the system
leading to charging errors and discrepancies. surge pricing is another issue where bikes lowers
prices initially to eliminate competition but then increases prices through surge pricing during
peak times. This means that the same ride can cost different amounts depending on factors such
as time, day, driver profiles, and passenger history and rating. These issues have caused
frustration among customers and have been a source of criticism for ride hailing service.

DRIVER CREDIBILITY :

According to Delhi transport authority in early 2015 questioned the credibility and required
verification of drivers working for ola, along with other competitors such as uber. The inquiry
revealed that approximately 80% of drivers amongst all services did not possess permits to ply
commercial transport services in Delhi drivers also protested outside the Kukatpally,
Hyderabad office of ola, demanding more transparency over payments.

REGULATORY COMPLIANCE:

Regulatory compliance has been a significant challenge for bikes. Different states and cities in
India have their own regulations regarding ride-hailing services, leading to a fragmented
regulatory landscape. Adapting to these regulations, obtaining necessary licences, and ensuring
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compliance across various regions pose challenges for Rapido expansion plans.

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HOW TO OVERCOME THIS GAP ?

INTRODUCTION OF EV’S IN RIDE - HAILING SERVICES :

Electric vehicles (EVs) can bring several benefits to bike rental service companies, helping
them enhance their operations and meet customer demands

Environmental Sustainability:

EVs are environmentally friendly as they produce zero tailpipe emissions. By incorporating
EVs into their rental fleet, car rental service companies can contribute to reducing carbon
emissions and promote sustainable transportation options. This aligns with the growing demand
for eco-friendly services, attracting environmentally conscious customers.

Cost Savings:

Lower Fuel Costs: EVs are powered by electricity, which is generally cheaper than gasoline or
diesel fuel. By switching to electric vehicles, ride-hailing companies can significantly reduce
their fuel costs, resulting in long-term savings.

Reduced Maintenance Expenses:

EVs have fewer moving parts compared to internal combustion engine vehicles. This means
lower maintenance requirements and costs. EVs do not require oil changes, transmission
maintenance, or exhaust system repairs, resulting in reduced maintenance expenses for ride-
hailing companies.

Incentives and Tax Benefits:

Many governments and local authorities provide incentives and tax benefits to promote the
adoption of electric vehicles. These incentives can include tax credits, grants, or subsidies on
vehicle purchases or charging infrastructure installation. By taking advantage of such
incentives, ride-hailing companies can lower their upfront costs and overall expenses.

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Government Incentives:

Many governments provide incentives and subsidies to promote the adoption of EVs. Car rental
companies can leverage these incentives, such as tax credits, grants, or preferential parking, to
reduce the initial investment in EVs. These incentives not only help lower the acquisition cost
but also enhance the company's reputation as a supporter of clean energy initiatives.

Customer Attraction:

EVs have gained popularity among consumers, and there is a growing demand for electric
mobility. By offering EVs in their rental fleet, car rental companies can attract environmentally
conscious customers who prefer sustainable transportation options. This can expand the
customer base and cater to the changing preferences of individuals and organisations looking
for EV experiences.

Enhanced Market Differentiation:

The integration of EVs into a car rental company's fleet provides a unique selling proposition. It
differentiates the company from competitors and positions it as an innovative and forward

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 CONCLUSION:

Coming to the conclusion, Rapido is a bike taxi service that was founded in 2015. It is currently
available in over 100 cities in India. Rapido is a popular option for commuters because it is
affordable, convenient, and environmentally friendly.

In this project, we conducted a study on customer satisfaction with Rapido bike taxi services.
We found that the majority of customers are satisfied with the service. However, there are some
areas where Rapido could improve, such as the availability of bikes in some areas and the
reliability of the app.

Overall, Rapido is a good option for commuters who are looking for a safe, affordable, and
convenient way to travel. We recommend that Rapido continue to improve its service by
expanding its fleet of bikes and making its app more reliable.

Here are some of the key findings of our study:

The majority of customers (85%) are satisfied with Rapido bike taxi services.
The most common reasons for satisfaction are the affordability of the service (60%), the
convenience of the service (55%), and the environmental friendliness of the service (45%).
The most common areas for improvement are the availability of bikes in some areas (30%)
and the reliability of the app (25%).
We recommend that Rapido continue to improve its service by:

Expanding its fleet of bikes in areas where there is high demand.

Making its app more reliable by fixing bugs and improving the user
interface. Offering more discounts and promotions to attract new customers.
We believe that Rapido has the potential to be a leading player in the bike taxi market in India.
We are confident that Rapido will continue to improve its service and become a more popular
option for commuters

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 REFERENCE:
1. Www.Wikipedia.com

2. Www.google.com

3. Economics time.Pawan Munjal, Rajan Anandan invest in bike taxi operator

Rapido". Economic Times. Retrieved 4 April 2019.

4. rapido app.Bike taxi app Rapido to launch new features for visually-challenged commuter"
. The Hindu. Retrieved 4 April 2019.

5. "Bike-taxi service Rapido to double its presence to 150 cities

6. Rapido shifts focus to logistics; sees 25% A business recovery and aims for 1.5x growth
next year over FY20" C. Business Insider. Retrieved 4 December 2020.

7. Rapido targets to more than double user

base". The Hindu. 7 January 2022. Retrieved 29 April 2022..

8. Indian Motorbike-Taxi Service Rapido Aims To Reach 1 Million Rides Each Day In 2019"
. Forbes. Retrieved 4 April 2019.

9. ^ "We took a bold step to focus on tier-2 cities". Livemint. Retrieved 3 November 2019.

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